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 Your source for the latest technology information of interest to credit unions across America.

Subscribe to our weekly e-mail newsletter and/or our monthly newsletter and stay on top of the latest technology trends in Hardware, Software, ATMs, Biometrics, Wireless, Online Banking, Marketing, Security, Internet Access and Call Centers.

July 7, 2014

~ This Week's News is Sponsored by Better Branches ~

 

General News  

* Sterling United FCU Selects Sharetec System
* IMM Introduces TotaleAtlas Workflow Lite
* Q2 Partners with Easy Solutions
* Gesa CU Launches P2P from Member Access Pacific

Sharetec System, one of the fastest growing core systems, announced that Sterling United Federal Credit Union in Evansville, IN, has selected Sharetec System as their new core system. In addition to the indirect lending functionality, Sterling United FCU will implement paperless offices using electronic signatures throughout their four offices in both the share and loan areas, as well as remote signatures for those members who won`t be able to make it into the office. The credit union will also implement Sharetec`s marketing ads on signature pads.

IMM, a leading provider of eSignature, workflow and document solutions for credit unions, introduced TotaleAtlas Workflow Lite. It provides an enhanced automated and collaborative processing environment for TotaleAtlas, IMM`s flagship eSignature and electronic document presentment platform, at an introductory price and deployment model.

Easy Solutions, a leading fraud protection company and Q2, a top provider of secure virtual banking solutions for credit unions, announced a partnership to provide omni-channel fraud prevention solutions to Q2`s roster of more than 340 financial institutions. Easy Solutions` award-winning platform is designed to protect organizations against the most sophisticated forms of electronic fraud.

Gesa Credit Union recently introduced Gesa P2P Express, a person-to-person payment service, which allows their members to send and receive money in a matter of minutes from their phone or online. Gesa`s P2P service is built on Pocket2Pocket, a secure fully-branded person-to-person payment solution launched earlier this year by Member Access Pacific (MAP) and CU24.

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Hardware News

Network Critical provides a range of network packet broker (NPB) solutions which provide granular visibility into network activity. NPB technologies intelligently direct the right traffic to the relevant network tools helping to optimize performance, compliance and deliver improved security insights. The company uses their Drag-n-Vu software technology, which drives their SmartNA-X and SmartNA-X HD devices, to help eliminate the risk of misconfiguration issues.

RRAM (resistive random-access memory) is a new form of nonvolatile memory that should be on the market shortly. It will be less expensive, smaller and more power-efficient than NAND flash, which is being used in solid-state drives and mobile flash drives. A startup called Crossbar announced a RRAM array for servers and appliances that will be able to store terabytes of data. Crossbar said its RRAM can be 20 times faster and more power-efficient than NAND flash. 

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Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)

 

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Software Updates

Misys has launched a new modular core banking system dubbed FusionBanking Essence. The company says that it integrates their recently acquired digital channels solutions with the componentized core FusionBanking system, in-memory analytics engine and a range of applications. According to Misys, FusionBanking Essence has been proven to reduce the time taken to design and create new financial products by up to 60%.

CA Technologies released a free Windows XP migration tool called CA Desktop Migration Manager. The software can copy a user's files, browser bookmarks, desktop settings and other pertinent information to network file storage, allowing the administrator to upgrade the laptop or desktop computer to a new version of Windows or move the user to a new Windows computer altogether.

LAN Speed Test is a free utility designed to measure file transfer, hard drive, USB Drive, and wired and wireless LAN speeds. It builds a file in memory, then transfers it both ways while keeping track of the time, and calculates the result. Most tests are less than 1 minute, and the file size is 120KB for Windows.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Cardless MCA allows a consumer to interact with the ATM via a secure mobile banking app on their smartphone instead of the traditional plastic card. Besides security benefits (no skimming is possible), cardless MCA could be a vehicle for driving loans. Crone Consulting calls this a “transactional credit” which would allow credit unions to provide cash access to additional funded accounts that are not currently card-enabled such as: home equity and personal revolving lines of credit; money market accounts; and more. In addition, cardless MCA app issuers can deliver promotional advertising and offers that complement the transactional credit.

Unfortunately, brute force attacks are increasing at ATMs around the world due to the fact that blowing the door off an ATM is quick, relatively easy and potentially lucrative. To counter this growing threat, Safe & Vault Company has introduced their Gas Attack Protection X solution. The technology covers the key risks from gas attacks: It controls explosions within seconds; manages fire risk; and alerts police.

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ATMs/Kiosks Sponsored by
Heritage Industries


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CU Success Stories  

 

Here is a chance to learn about real life credit union success stories from various technology vendors through the words of their clients. This week's vendor is:

 

Enhanced Software Products (ESP)

ESP

and their client is:

Connection Credit Union

Credit Unions - if you have a vendor that you are happy with then please This email address is being protected from spambots. You need JavaScript enabled to view it.!

Vendors - if you have a credit union that is happy with your solutions then please This email address is being protected from spambots. You need JavaScript enabled to view it. and we will give you a $100 discount on your Case Study!
 

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Wireless World

Almost half (47 percent) of U.S. consumers admit they would not last a day without their smartphone, and many consider their devices more important than daily staples such as coffee and television, according to a new report released by Bank of America. Of those who use their phones for banking, almost one third (31 percent) say they log on at least once a day, and four out of five (82 percent) access their accounts at least once a week or more. Consumers who say they do not use mobile check deposit cite lack of awareness as the chief reason: more than one third (35 percent) are either not as familiar as they would like to be or unsure how to use the feature. More than one in five surveyed (21 percent) prefer physically handing checks to a teller, and 27 percent report they simply do not have any checks to deposit.

Google's upcoming Android L mobile operating system will include new mobile payment and commerce features. Version 5.0 of Google Play Services includes new features for Google Wallet, such as the ability to split tenders between a Google Wallet balance and a credit or debit card; store loyalty cards, coupons, and special offers; and more easily add card payment and billing information. Other new features include changes to make it easier for users to unlock and secure their devices, and Bluetooth Low Energy peripheral mode, which will enable Android devices to act as Bluetooth beacons.

America First Credit Union in Ogden, Utah, just updated its mobile app to give members help with buying a new or used car before and while visiting auto dealerships. Using Fiserv's Mobiliti in conjunction with the auto lending network Credit Union Direct Lending (CUDL), members can scan used cars' VINs so that they can compare dealer pricing with guidebook values. Plus, they can determine which loan they want to apply for, complete an application, obtain a confirmation number if they are pre-approved, and connect with a loan officer by phone. The app also now allows members to apply for other types of credit, like RV loans and Visa credit cards.

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Security Section

KnowBe4 recently ran a Ransomware survey. Here the highlights of their Ransomware survey;

- 88% expect ransomware to increase the rest of the year

- 47% feel email attachments pose the largest threat

- Confidence in endpoint security to stop ransomware dropped from 96% in January to 59%

- 88% consider Security Awareness Training the most effective protection from ransomware over 81% for backup

- Only 16% feel their current solutions are very effective, while 72% feel they are somewhat effective

- Confidence in email filtering effectiveness dropped from 88% to 64%

- If faced with 4 hours of lost work from ransomware encryption, 81% would rely on backup

- If confronted with a scenario where backups have failed and weeks of works might be lost, 57% would begin with paying the $500 ransom and hope for the best

According to data from ACI Worldwide and Aite, the United States is tied with India for third place for the highest rate of fraud. The growing incidence of card fraud appears to be having a destabilizing effect on consumer trust in financial organizations, with one quarter of cardholders switching financial institutions due to dissatisfaction after experiencing fraud. A further 63% of victims also reported that they are more likely to use their cards less.

Network Box USA's Managed Cloud Email Security solution provides multilayered email threat protection against malware, unsolicited email, phishing, spyware, zero-day threats and more. The solution utilizes:

- 25 anti-spam engines

- 16 anti-malware engines

- a database of over 40 million anti-spam and anti-malware signatures

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Leaders Roundtable

Online & Mobile Banking:

Online and Mobile Banking – Improving & Bridging the Digital Channels

Bluepoint Solutions - http://www.bluepointsolutions.com
Read Andrew Tilbury's comments:
https://www.cunews.com/Bluepoint.pdf

D+H - http://www.dh.com
Read Tom Berdan's comments:
https://www.cunews.com/D+H.pdf

 
Integrated Media Management - http://www.immonline.com  
Read John Levy's comments:

Javelin Strategy & Research - http://www.javelinresearch.com
Read Mark Schwanhausser's comments:
https://www.cunews.com/Javelin.pdf

Mercator Advisory Group  - http://www.mercatoradvisorygroup.com
Read Pradeep Moudgal's comments:    
https://www.cunews.com/Mercator.pdf
 
PSCU - http://www.pscu.com
Read Jeremiah Lotz's comments:
https://www.cunews.com/PSCU.pdf



 

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Technology and Marketing

Individuals born between 1982 and 2001 comprise the Millennials, also known as Generation Y. By some estimates, over 80% of them are currently seeking financial advice. To meet this need, I.C. Federal Credit Union developed a series of short humorous videos explaining some of the most common financial questions that Millennials have. Their efforts were rewarded with increased membership levels, and were most effective at bringing more Millennial members onboard.

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Online Banking/E-Commerce/Website Design

A new report from Aite Group predicts that about 1,000 financial institutions will be converting online banking platforms in the coming years. They will be looking to add personal financial management capabilities and other baseline tools while ramping up their ability to better serve tablet users. The research firm noted that many "financial institutions are now focusing on enhancing the consumer solution's user experience and offering mobile capabilities to small-business and corporate customers."

MasterCard has received a patent for a new form of interchange designed for non-traditional types of online payments to facilitate deployment of the "global shopping cart." The patent says the card company is bundling together alternative payments that include "barter, virtual currency, bitcoin, social media credits, automated clearing house, and coupons." Any payment type can pass through this new interchange provided it is accessible via a flexible application programming interface (API) and can have an agreed-upon value.

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Online Banking Sponsored by
PSCU

PSCU

PSCU - The Nation's Leading CUSO

We offer leading edge eCommerce Solutions:

* Electronic Banking

* Mobile Banking

* Online Bill Pay

* Remote Deposit Capture

Contact us today:

(800) 443-7728

 

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Internet Access

According to a new global study from BT, disruptive cyber attacks are becoming more effective at breaching security defenses, causing major disruption and sometimes bringing down organizations for whole working days. The research reveals that 41 percent of organizations globally were hit by Distributed Denial of Service (DDoS) attacks over the past year, with three quarters of those (78 percent) targeted twice or more in the year. Attackers are often adopting hybrid, or multi-vector, attack tactics which involve attacks through multiple platforms. These have increased by two fifths (41 percent) during the past year.

Estimating the amount of bandwidth you use on an Ethernet/IP network can be tricky. Fortunately Rockwell`s Ethernet/IP Capacity Tool is designed to allow the user to select a platform, add different types of I/O and network devices, and then calculate how many Common Industrial Protocol (CIP) and TCP connections are processed in addition to packet- per-second performance requirements. Plus the tool is available at no charge from Rockwell: http://www.insightsinautomation.com/estimating-bandwidth-using-the-free-ethernetip-capacity-tool/

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Internet Access Sponsored by
Ongoing Operations

OGO

Ongoing Operations - The Credit Union Movement's Top BCP & Technology (Cloud) Provider

Always-On Production Connectivity typically includes:

* Internet Connectivity

* Core System Connectivity

* Credit Union Connectivity

* Credit Card Processor

* Debit Card Processor

* ATM Processor

* Online Banking Provider

* Fedline / Federal Reserve Connectivity

* Enterprise Grade Firewall

* Intrusion Detection System

 

Contact us today:

This email address is being protected from spambots. You need JavaScript enabled to view it.

and

visit our blog for the latest BC/DR news: http://ongoingoperations.com/blog/

 

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Call Centers

Eureka is a solution designed to improve contact center performance through conversational analytics (text and speech analytics). It helps reveal insights from automated analysis of communications between you and your members across multiple channels – including phone, email, chat, social and more. The software can automatically evaluate every contact for sentiment/acoustics, categorization, and performance scoring, and is available cloud-based or on premise.

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